Senomyx Announces First Commercial Introduction of Food Products Containing Senomyx Flavor Ingredients by Nestle SA
Tuesday June 5, 8:00 am ET
SAN DIEGO, June 5 /PRNewswire-FirstCall/ -- Senomyx, Inc. (Nasdaq: SNMX - News), a leading company focused on using proprietary technologies to discover and develop new flavor ingredients for the packaged food and beverage industry, announced today that Nestle SA, the world's largest food company, has begun the initial commercial introduction of the first food products that contain Senomyx's savory flavor ingredients. Under the terms of its agreement with Nestle, Senomyx will receive royalty payments based on sales of products containing its flavor ingredients.
"Senomyx is extremely pleased that a company of Nestle's reputation and stature has begun marketing its first food product that includes one of our savory flavor ingredients," said Kent Snyder, President and Chief Executive Officer of the Company. "This is the first commercial launch of foods that incorporate a Senomyx flavor ingredient, and it represents a significant achievement for us and a validation of the Company's technology and products. We thank Nestle for their commitment and cooperation in bringing this launch to fruition, and we highly value our ongoing collaboration with them."
The first new product, which is within the bouillon category, has been introduced by the Nestle sales organization in a Pacific Rim country and orders are being taken for shipment in July. Senomyx anticipates that up to eight different products in the dehydrated, culinary, and bouillon food categories will be launched on a rolling basis in countries in the Pacific Rim, Central West Africa and Latin America, including Brazil, over the course of 2007. Future commercialization updates will be provided during the Company's earnings calls.
About Senomyx, Inc. (http://www.senomyx.com)
Senomyx is a leading company using proprietary taste receptor-based assays, screening technologies and optimization chemistry to discover and develop novel flavors, flavor enhancers and taste modulators for the packaged food and beverage industry. The Company is focusing on the development of these flavor ingredients in the savory, sweet, salt and bitter areas. Senomyx has entered into product discovery and development collaborations with seven of the world's leading packaged food and beverage companies: Ajinomoto Co., Inc., Cadbury Schweppes, Campbell Soup Company, The Coca-Cola Company, Kraft Foods Global, Inc., Nestle SA, and Solae, LLC. Nestle is currently marketing products that contain one of Senomyx's flavor ingredients. For more information, please visit senomyx.com.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding: the capabilities of Senomyx's savory flavor ingredients; the size of any market for Senomyx's products; Senomyx's ability, or Senomyx's collaborators' ability, to commercialize products incorporating Senomyx's flavor ingredients in packaged foods and beverages; and Senomyx's potential royalty revenues. Risks that contribute to the uncertain nature of the forward-looking statements include: Senomyx is dependent on its product discovery and development collaborators for all of Senomyx's revenue; Senomyx is dependent on its current and any future product discovery and development collaborators to develop and commercialize any flavor ingredients Senomyx may discover; Senomyx may be unable to develop flavor ingredients useful for formulation into products; Senomyx or its collaborators may be unable to obtain and maintain the regulatory approval required for flavor ingredients to be incorporated into products that are sold; even if Senomyx or its collaborators receive a regulatory approval and incorporate Senomyx flavor ingredients into products, those products may never be commercially successful; and Senomyx's ability to compete in the flavor ingredients market may decline if Senomyx does not adequately protect its proprietary technologies. These and other risks and uncertainties are described more fully in Senomyx's most recently filed SEC documents, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings "Risks Related to Our Business" and "Risks Related to Our Industry." All forward-looking statements contained in this press release speak only as of the date on which they were made. Senomyx undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Contact:
Gwen Rosenberg
Senomyx, Inc.
Vice President, Investor Relations & Corporate Communications
858-646-8369
gwen.rosenberg@senom |
